Changes at Yahoo
As mentioned in our earlier blog "Yahoo acquires Qwiki" Yahoo has been on a spending spree recently focusing on mobile software which it hopes will win advertisers and users back from rivals Google and Facebook. The acquisitions tie in with the appointment Marissa Mayer who was hired as CEO a year ago. Yahoo has acquired 17 companies since Mayer was hired, including three since May, when it brought blogging service Tumbir $1 billion ($730 million).
It has now been reported that Yahoo will buy back 40 million shares from Third Point, reducing its stake in the company to less then 2%. As a result of the buy back three directors nominated by Third Point have also resigned. The buy back comes at a time where Yahoo's stock has risen more than 70% since Ms Mayer took charge.
Watch this space for further Yahoo acquisitions and changes.